OPEN-SOURCE SCRIPT
Updated New York, London and custom trading sessions
Hi Traders
The script :
The Time sessions script plots the trading sessions of both New York and London markets (background fills), In addition to the above the script also plots a user defined trading session period (vertical lines). All plots may be toggled true or false inorder to ensure you can focus on the respective market / markets / custom session.
Market sessions are useful for technical or quantitative analysis, as the majority of trading activity and net daily volume occurs in these zones, in fact the U.S./London market overlap tends to have the greatest volume accumulation across that range of time / bars than that range at any other time within the daily session. For FX traders it may also be important to take into account for many currency pairs the average exchange rate pip movement is greatest within these zones.
The custom session, is intended to be used for traders who trade only within specific intervals within the market session or day for 24/7 traded asset classes
Additional notes :
Not as of now, I have only added three optional trading sessions. If you would like to change the sessions, copy the scripts code and change the "ctm_session" default time range value, insuring the second time value is 1 min > than the first.
As always i Hope this is a useful script, and I will be updating this script in the near future.
The script :
The Time sessions script plots the trading sessions of both New York and London markets (background fills), In addition to the above the script also plots a user defined trading session period (vertical lines). All plots may be toggled true or false inorder to ensure you can focus on the respective market / markets / custom session.
Market sessions are useful for technical or quantitative analysis, as the majority of trading activity and net daily volume occurs in these zones, in fact the U.S./London market overlap tends to have the greatest volume accumulation across that range of time / bars than that range at any other time within the daily session. For FX traders it may also be important to take into account for many currency pairs the average exchange rate pip movement is greatest within these zones.
The custom session, is intended to be used for traders who trade only within specific intervals within the market session or day for 24/7 traded asset classes
Additional notes :
Not as of now, I have only added three optional trading sessions. If you would like to change the sessions, copy the scripts code and change the "ctm_session" default time range value, insuring the second time value is 1 min > than the first.
As always i Hope this is a useful script, and I will be updating this script in the near future.
Release Notes
Update Notes- Tokyo session now included
- Fixed London session time
Release Notes
Updates: - Custom trading sessions can now be set to any user defined time
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.